Lorcan O’Connor, director of the  Insolvency Service, said on Tuesday that applications for debt relief are likely to continue to increase over the coming months. (Photograph: Eric Luke / THE IRISH TIMES)

Some 570 people applied for debt relief during the first quarter of the year, an increase of 16 per cent on 2015, according to figures from the Insol(...)

The rise is part of a major overhaul of its dealings with distressed borrowers. Photograph: Getty Images

The Insolvency Service of Ireland (ISI) is raising by 75 per cent the threshold it applies when arranging the forgiveness of unsecured debt. The move(...)

 Minister for Finance Michael Noonan has downplayed suggestions of a move to reduce the term of bankruptcy from three years to one, saying that more data is needed on the current  term. Photograph: Dara Mac Dónaill/The Irish Times

Minister for Finance Michael Noonan has downplayed suggestions of a move to reduce the term of bankruptcy from three years to one.Mr Noonan said more (...)

Lorcan O’Connor:“We met many people who didn’t actually realise that they were, in fact, insolvent.”    Photograph: Eric Luke

Comments by the chief executive of the Insolvency Service of Ireland arising from its third-quarter statistics are more worrying than the abject failu(...)

Research found many people are scrimping on food and prioritising bills but are too embarrassed to seek help - or don’t actually see themselves as insolvent. Photograph: Getty Images

Many people struggling with debt are still living below what is considered a reasonable living standard, according to the Insolvency Service of Irelan(...)

Insolvency Service of Ireland director Lorcan O’Connor:  “It will be the second quarter of 2014 before large volumes of cases complete the process.” Photograph: Eric Luke

Legislation to change the insolvency process is “neither contemplated nor necessary”, the director of the Insolvency Service of Ireland has said.Lorca(...)

Insolvency Service of Ireland director Lorcan O’Connor. A spokesman for the service said the insolvency system involved a “100-day process”. Photograph: Eric Luke

Only 11 protection certificates for debt resolution arrangements have been issued by the courts since the Insolvency Service of Ireland opened for bus(...)

A Donegal man’s  debt settlement arrangement  have been formally approved by the courts. His creditors will receive just over 20 per cent of what they were owed provided his financial circumstances do not change in the next five years

A Health Service Executive worker from Donegal has become the first person in the country to have a debt settlement arrangement formally approved by t(...)

Three of the country’s major banks were involved in the arrangement, provided for by new legislation, along with three other creditors.

A Donegal civil servant has become the first person in the country to have a debt settlement arrangement agreed by his creditors.Three of the country’(...)

The country’s first proposed debt settlement arrangement has been accepted by creditors at a meeting in Dublin today.Creditors voted by a majority of (...)